After Veranda Mall and Baba Novac Residence, SIF Moldova invests in the third real-estate project

Străulești Lac Alfa SA, a company owned by SIF Moldova and Cityring Property announces the development of a large-scale residential village with 1,400 apartments set in four phases up to 2023, following an investment of over 100 million EUR.

The new project is being built in Bucharest’s Sector 1, near Straulesti Lake, adjacent to the Colosseum Retail Park, and spans across nine hectares of land. The first phase comprising 160 apartments (studios, one and two bedrooms), a private park and a pool dedicated to residents is already under construction and is to be delivered in Q3 2019.

“Atria Urban Resort is a completely new concept on the market, made possible by teaming-up with, London-based, JTP Architects, specialized in community planning. With a vision that places people in the center of the design process, we have obtained a project where 75% of the surface is dedicated to interior parks, green spaces, alleys and parking units, integrated in a unitary-landscape concept”, explained Liviu Lepădatu, CEO, Cityring Property, investor within the project.

Along facilities such as playgrounds, pools, pedestrian paths or dedicated areas where kids can interact directly with nature, the community will benefit from its Community Manager whose role will be to organize events for residents from parenting and educational programs to parties, free-time activities, art shows and exhibitions.

The first phase includes the sale of studios with net areas of 40 sqm., one-bedroom apartments (with net areas between 50-60 square meters) and two-bedroom apartments (with net areas in the 65-85 square meters range) The average sale price is 1,150 EUR/ net per m2 + VAT, so that most of the units satisfy requirements for the legal 5% VAT. “Our project mainly targets young families, offering a superior quality of living at affordable prices, in an urban area, with massive infrastructure improvements”, Liviu Lepadatu further details.

ABOUT THE INVESTORS

SIF MOLDOVA: The manager of Alternative Investments Funds, SIF Moldova, focuses on the real estate sector, especially on the Northern Bucharest market and the area surrounding the A3 highway. Straulesti Lac Alfa is the third project in which SIF Moldova has invested in Bucharest, after Veranda Mall and Baba Novac Residence. The evolution registered in the development and management of those projects have validated the company’s strategy and investments decisions.

CITYRING PROPERTY – The company is owned by local businessmen Liviu and Eugen Lepadatu, known for the development of Tornado Sistems, a pioneer in the technology of PC systems and one of the biggest companies active on the IT&C distribution market. An engineer by profession, Liviu is also the founder of Ken Academy, a business entrepreneurship academy dedicated to children. Cityring Property is an investor in the Atria Urban Resort and is also the company which assures the management of the real estate project.